Physician Mortgage In Norwich Connecticut

Benefits of a Physician Loan

  • Zero or Low Down Payment 0-10% is typical.
  • No Private Mortgage Insurance(PMI) saving you up to 1% annually. That is a $10,000 per year savings on a 1 million dollar home.
  • Student loan debt not counted against you. This allows you to qualify for a nicer home.
  • Higher loan limits up to 2 million are available typically at the same rate.
  • Ability to close 90 days prior to new employment beginning. Moving is stressful enough without starting a new job. Why move twice or pay huge premiums for long term housing.
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Whether or not our clients are a first time home buyer or purchasing a new home in Norwich Connecticut, our vetted loan officers have a strong understanding of the local area real estate industry and what it really takes to secure your physician home loan with efficiency and expertise.

Our loan officers in Norwich Connecticut provide specialized financing for doctors, just like you.

To start with, let’s discuss why physician mortgage loans even exist. The main reason is that doctors are extremely profitable clients for lending institutions. They take out big loans early in their careers and almost always pay them off. Lenders use physician home loans to lock in early career doctors by lending them more money with far fewer terms than their competitors.

Physician Home Mortgage Experts In Norwich Connecticut

If you are trying to find a physician mortgage in Norwich Connecticut then you came to the perfect place.

You’ve worked very hard to become a doctor and buying home shouldn’t be nearly as difficult.

Did you know there is a special loan that makes it easy for doctors to buy a home?

A home loan specifically for doctors?

Yup, doctors get their own home loan!

A physician home mortgage is a specialized loan program created just for doctors in the home purchasing process.

We understand the economic demands of your student loan liability, and how vital it is to maintain working capital for when the time is right with starting your career. Whether you are a couple years into practice, or a well established doctor, you can rely on us to find a home loan that is specifically tailored for your needs.

Many doctors in Norwich Connecticut may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan financial debt or little to no work history.

Despite these factors smart lending institutions know that doctors are a good bet considering that they traditionally have an exceptionally low default rate on loans, high earning potential and secure jobs.

Not all financial institutions offer this specialized product and within banks that do just simply talking to the best mortgage loan officer makes a significant difference.

Benefits of Physician Mortgage Loans

  • Usually does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires low to no down payment (0-5 percent).
  • Generally does not require private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will approve a contract as documentation of future earnings, in lieu of pay stubs or W-2s, which don’t yet exist.

Buying a home doesn’t need to drain your savings and the process doesn’t need to drain your time.

Should You Put Money Down?

Suppose you have some money to put down or are looking at waiting until you have the funds?

Our loan providers can do the math for you and show you what each situation looks like and the benefits of each too.

In most instances, you’ll get your home loan paid off earlier and save thousands on interest too.

Furthermore, don’t overlook that having equity in your house will most likely provide greater security and flexibility, especially if something unanticipated happens. With the 100% financed physician home mortgage loan, you should expect to start out under water. If something doesn’t work out and you are forced to sell quickly, you should be prepared to write a potentially sizable check for up to 10% of the purchase price just to get out of the house.

No matter if you’re relocating down the road, across town or across the country, we are right here to assist you all throughout the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Norwich Connecticut physician loan program!

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